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HEARINGS

BEFORE A

SUBCOMMITTEE OF THE
COMMITTEE ON BANKING AND CURRENCY

UNITED STATES SENATE

EIGHTY-SIXTH CONGRESS

SECOND SESSION

ON

VARIOUS BILLS TO AMEND THE

FEDERAL HOUSING LAWS

MAY 9, 10, 11, 12, 16, 17, 18, 19, 20, 23, 24, 25, AND 27, 1960

Printed for the use of the Committee on Banking and Currency

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COMMITTEE ON BANKING AND CURRENCY

A. WILLIS ROBERTSON, Virginia, Chairman J. W. FULBRIGHT, Arkansas

HOMER E. CAPEHART, Indiana JOHN SPARKMAN, Alabama

WALLACE F. BENNETT, Utah J. ALLEN FREAR, JR., Delaware

PRESCOTT BUSH, Connecticut PAUL H. DOUGLAS, Ilinois

J. GLENN BEALL, Maryland JOSEPH S. CLARK, Pennsylvania

JACOB K. JAVITS, New York
WILLIAM PROXMIRE, Wisconsin
ROBERT C. BYRD, West Virginia
HARRISON A. WILLIAMS, JR., New Jersey
EDMUND S. MUSKIE, Maine

J. H. YINGLING, Chief of Staff
MATTHEW HALE, Chief Counsel

SUBCOMMITTEE ON HOUSING

JOHN SPARKMAN, Alabama, 'Chairman J. W. FULBRIGHT, Arkansas

HOMER E. CAPEHART, JIndiana PAUL H. DOUGLAS, Illinois

PRESCOTT BUSH, Connecticut JOSEPH S, CLARK, Pennsylvania

J, GLENN BEALL, Maryland HARRISON A. WILLIAMS, JR., New Jersey EDMUND S. MUSKIE, Maine

JAMES B. CASE, Jr., Staf Director

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50

51
51
51

S. 3042 (Mr. Javits)

Digest of bill.--.

Reports of :

Housing and Home Finance Agency-

Treasury Department --

S. 3148 (Mr. Kefauver).

Digest of bill.--.

Report of Housing and Home Finance Agency

S. 3226 (Mr. Sparkman).

Digest of bill.---

Reports of:

Housing and Home Finance Agency-.

Aeronautics and Space Administration.-

S. 3276 (Mr. Sparkman and others)---

Digest of bill.--.

Reports of:

Housing and Home Finance Agency-

Treasury Department_

Veterans' Administration---

S. 3278 (Mr. Williams of New Jersey and others).

Digest of bill.---

Reports of :

Housing and Home Finance Agency-

Treasury Department--

Interstate Commerce Commission.--

Civil Aeronautics Board_-

Civil and Defense Mobilization.--

S. 3282 (Messrs. Smathers and Morse).

Digest of bill..

Reports of :

Housing and Home Finance Agency-

Treasury Department..

S. 3291 (Mr. Hart)-

Digest of bill.

Report of Housing and Home Finance Agency-

S. 3292 (Mr. Clark and others).

Digest of bill.--

Reports of :

Housing and Home Finance Agency.

Budget Bureau...

S. 3379 (Mr. Sparkman)

Digest of bill---

Reports of:

Housing and Home Finance Agency---

Agriculture Department

S. 3458 (Mr. Clark)-

Digest of bill__

Report of Health, Education, and Welfare Department.

8. 3498 (Mr. Bennett and others)-

Digest of bill.

8. 3499 (Mr. Bennett and others) ---TORTO

Digest of bill ----

S. 3500 (Mr. Bennett and others)

Digest of bill ---

S. 3502 (Mr. Murray).

Digest of bill -

8. 3504 (Messrs. Bush and Capehart)

Digest of bill...

S. 3509 (Mr. Clark).

Digest of bill --

S. 3512 (Mr. Williams of New Jersey)

----------------

Digest of bill_

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S. 3541 (Messrs. Sparkman and Capehart)-

95

Digest of bill__

101

Report of Federal Reserve System.

104

S. 3586 (Messrs. Fulbright and Sparkman)

105

Digest of bill.

105

S. 3595 (Mr. Long)

105

Digest of bill.

106

H.R. 10213---

106

Digest of bill...

109

Reports of:

Federal Reserve System.-

110

Veterans Administration..

111

Aeronautics and Space Administration..

112

Statement of -

Alpert, George, president and chairman of the board, New York, New

Haven & Hartford Railroad Co------

798

Anderson, Hurst R., president, American University, Washington,
D.C., Association of American Colleges ---

574
Andrus, Cowles, chairman, Committee on Real Estate Mortgages,

Savings and Mortgage Division; accompanied by Dr. Kurt C. Flex-

ner, director of mortgage finance, American Bankers Association.- 668

Arrington, John H., Chief Family Housing Division, Office of Assistant

Secretary of Defense (Properties and Installations); accompanied

by Andrew Mayer, Office of General Counsel, Department of

Defense ---

1001

Barnes, Sidney C. attorney-

619

Bartling, Martin L., president; accompanied by Nels G. Severin, past

president, E. J. Burke, Jr., first vice president; and Herbert S. Col-

ton, general counsel, National Association of Homebuilders

452

Battista, Vito P., legislative chairman, New York Committee of Prop-
erty Owners Associations ---

695

Baughman, J. Stanley, President, Federal National Mortgage Asso-

ciation --

130, 945

Berger, David, city solicitor, Philadelphia, Pa---

843
Bethel, Lawrence L., American Association of Junior Colleges--- 448
Brinkman, O. H., executive secretary, legislative committee, National
Apartment Owners Association, Inc.-

420

Bronk, Dr. Detlev, president, National Academy of Sciences.

891

Brown, R. Manning Jr., vice president in charge of real estate and

mortgage loans, New York Life Insurance Co., and chairman, Sub-

committee on Housing and Mortgage Lending of the American Life

Convention and Life Insurance Association of America; accom-

panied by Dr. James J. O'Leary, director of economic research, Life

Insurance Association of America ; and Ehney A. Camp, Jr., vice

president and treasurer, Liberty National Life Insurance Co., Bir-

mingham, Ala----

680

Brownstein, P. N., Director, Loan Guaranty Service; accompanied by

John M. Dervan and Philip J. Maloney, Loan Guaranty Office; and

Ray P. Bland, Director of Legislative Service, Veterans' Admin-

istration.---

313

Camp, Ehney A. Jr., vice president and treasurer, Liberty National

Life Insurance Co., Birmingham, Ala---

680

Carrion, Rafael Jr., president, Puerto Rico Bankers Association --- 589

Celebrezze, Anthony J., mayor, Cleveland, Ohio; accompanied by

Michael M. Lucak, chairman, and Gaspare Corso, member, Cleveland

Transit System, American Municipal Association.--

868

Collazo, E. Rodriguez, Puerto Rico----

585
Courshon, Arthur H., chairman of the board, Washington Federal
Savings & Lean Association, Miami Beach, Fla-----

226
Davies, J. Clarence, chairman, Housing and Redevelopment Board,
New York City.

647

Dennis, E. Willard, Rochester, N.Y.

897

Dilworth, Richardson, mayor, Philadelphia, Pa., president, U.S. con-

ference of mayors--

384, 738

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